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U.S. Auto Parts Network Q4 gross profit increased 28%

Christian Fernsby |
U.S. Auto Parts Network reported results for the fourth quarter ended December 31, 2019.

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Topics: U.S. AUTO PARTS   

Fourth quarter 2019

Private label sales increased 15% Y/Y.

Gross profit increased 28% to $21.2 million, with gross margin up 800 basis points to 33.7%.

Net sales declined as expected to $63.0 million compared to $64.7 million due to reduction of unprofitable business lines.

Net loss was $(25.1) million or $(0.70) per share, compared to a net loss of $(4.5) million or $(0.13) per share. Q4 2019 includes a $(21.5) million deferred tax valuation allowance.

Adjusted EBITDA increased 137% to $1.7 million.

Ended the quarter with no revolver debt.

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